Sunday, March 14, 2004 5:00 PM
Do You Have What It Takes? (Part II)
by PimpSticky
The Small Business Associations website actually has a
useful psychological profile of people that are likely to
succeed in their own business. Things like being a self-starter
willing to work fourteen or fifteen hour days etc. In this
business the real benefits are reaped by those tenacious
individuals who continue to increase their technological
know how. Keep their costs low and have sound business plans
based around products and or models previously unproven.
Take this into consideration for a moment years ago sites
that offered free pictures and movies under a specific theme
(free sites) where the traffic vehicle of choice. They where
superceded by one page sites (thumbnail galleries) that only
offer a fraction of the content of free sites. At one time
the largest trafficked sites where link lists now they are
pages that list thumbnail galleries. This is a prime example
of one business model being replaced by another. Recall that
before “reality sites” the main subscription sites relied
on plug-in content and bulk photos. How long will it be before
your current business model goes the way of the dinosaur?
As a small business operator you have to stay alert one
shift of an industry trend in the wrong direction improperly
gauged will send your ship into troubled waters. Your technology
has to be up to date and more importantly you need to be
able to manipulate it to get results. Are you emotionally
attached to your products or services? Unwilling to make
changes to your “proven money maker” your inability to act
could be stunting your growth! In a business the bottom line
is to clear as much profit as possible while keeping expenses
at a minimum. If you have lost sight of this goal and are
content to tend your flock of sites and compete at a tempered
pace, letting the so called “big boys” dictate your patterns
and actions like sheep it may be possible that you no longer
really own a business perhaps you own a job instead?
The masochists make more than the sadists!
It Pays to Like Pain!
It is my belief that to operate your own business you have
to be bold and willing to undertake responsibilities that
may cause emotional pain. You have to be willing to wake
up early and go to sleep late work through lunch and finish
a task to meet deadlines (if you are unable to set and meet
realistic deadlines your organization is not organized).
You must do all of these things while keeping a cool head,
master your emotions and deal with all things rationally.
While although seemingly difficult once you have created
the habit of thinking like this you will start to see more
possibilities than you thought existed for your business.
However if you cant you may find out that you wont make
it in this business. That is not to say that you wouldn't
be able to generate a living from this but is that what life
is about? If you subscribe to the notion that money is a
tool you will do all you can to amass as much as you can
for future generations. Don't cripple yourself by ignoring
the fundamentals of business or declining to be creative.
After all every small business operator wants be a big business
owner someday.
Things to consider:
- Does your business have a thorough business plan charted
for the next three years?
- Do you have a backup plan if the first one fails?
- Is your company structured to benefit from as many tax
deductions as possible?
- Is the timing right to enter or expand your position
in the market your considering?
- Do you have the skills necessary to execute your plan
in a timely manner or will you have to acquire new skills
in the process? If so you may want to reconsider your
timeline and make it more realistic to your situation.
comments? flames? or questions post
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